A four-rooftop New York dealership group has agreed to pay nearly $165,000 to resolve allegations of deceptive vehicle-financing and sales tactics, including misrepresenting customers' income and making false promises to refinance customers' loans.
Nemet Kia, Nemet Hyundai, Nemet Nissan and Nemet Motors in Jamaica, in the borough of Queens, agreed to pay $108,231 in restitution to customers and $56,250 in civil penalties to the state of New York.
The settlement, signed in May, resolves complaints about misleading customers on financing terms, inflating incomes to secure financing, falsely promising to refinance, jamming of aftermarket products and employing deceptive sales tactics.
Under the agreement, the dealerships agreed to discontinue deceptive or illegal practices, modify employee training and retain an outside monitor to ensure the stores comply with the settlement. They also agreed to provide customers with copies of their lease contracts or bills of sale with itemized costs, fees and taxes at the end of each transaction.